studentaid

Legislation on Graduates' Salaries Reintroduced (and Altered)

WASHINGTON -- Senators Marco Rubio, Ron Wyden and Mark Warner introduced a bill Thursday to require colleges to disclose data about their students' salaries in the first year after graduation. The measure would require colleges to break down salary data by major or program of study, as well as require them to report more information on remediation rates, debt for students who graduate and those who drop out, and continuation rates to graduate education. It would also disaggregate outcomes for Pell Grant and G.I. Bill recipients.

The bill would also repeal the ban on a federal unit record data system to track students' outcomes in college and beyond. The previous version of the bill would have circumvented the ban by linking state unit record databases. Some House Republicans, privacy advocates and private colleges strongly opposed the creation of such a database in 2006, when it was proposed by the Bush administration.

The bill, the Student Right to Know Before You Go Act, was first introduced in the last Congress; since then, transparency about graduates' debt and salaries has become a point of agreement for the Obama administration and some Congressional Republicans. Many colleges oppose it, arguing that information about salaries doesn't accurately capture the value of a higher education, particularly only one year after graduation. The measure picked up a new Democratic co-sponsor, Warner, of Virginia. The bill's counterpart in the House of Representatives was co-sponsored by Duncan Hunter, Republican of California, and Robert Andrews, Democrat of New Jersey.

Student loan interest rate proposals from House Republicans and some Senate Democrats

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House Republicans and two Senate Democrats introduce proposals for student loan interest rates that would vary from year to year.

CFPB report looks for solutions on private student loan debt

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Federal regulatory agency releases an overview of ways to help private student loan borrowers, but doesn't make specific suggestions on Congressional action.

Canadian University Slashes Tuition for Americans

The University of Windsor sits just across the Canadian border from Detroit, yet Americans make up just 82 of its nearly 2,000 international students. So the Canadian institution is trying to woo those south of the border, by cutting its tuition in half for Americans, the CBC reported. Under the policy change late last month, American students will pay $5,000 a semester, down from the current $10,000 and significantly less than the $15,000 some international students pay. "The international relationship we have with folks right across the river is much different than the relationship we have with [other] countries around the world," Windsor's president, Alan Wildeman, told the CBC.

The university's billboards around Detroit encourage locals to "put the 'u' in neighbour."

FAFSA changes recognized many kinds of parents

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Changes to the FAFSA will collect information on both parents in a same-sex marriage or who are unmarried but living together.

Education Department Issues Guidance on Grant Cuts

WASHINGTON -- While the Pell Grant is exempt from the mandatory, across-the-board budget cuts that went into effect in March, other federal higher education grants are not. Iraq-Afghanistan Service Grants, for the children of members of the military killed in action, have been cut back by 10 percent for new recipients beginning March 1, the Education Department announced in guidance issued Friday. TEACH Grants, for students planning to become teachers in high-need areas, have been reduced by 7.1 percent.

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U.S. Lawmakers Ask for Input on Higher Education Act

WASHINGTON -- As Congress begins the long process of renewing the Higher Education Act, the leaders of the House Committee on Education and the Workforce published an open letter to higher education "stakeholders" Thursday, asking for suggestions on rewriting the sweeping law governing federal financial aid programs. Representatives are especially interested in a few areas, they wrote: empowering "students as consumers"; simplifying student aid and loans; increasing affordability, accountability and completion; reducing costs; and balancing "the need for accountability with the burden of federal requirements."

In a statement, the committee's chairman, Representative John Kline, a Minnesota Republican, emphasized paring regulations, simplifying financial aid and providing families with better information. Representative George Miller, a California Democrat, said he hoped to focus on the increasing price of higher education, student debt, barriers to completion, and community colleges.

The committee said it welcomes suggestions -- the more specific the better -- at HEA.Reauth@mail.house.gov.

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Australian government to turn textbook grants into loans

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Australian government announces plan to turn "start up" grants for textbooks and other costs into loans, which critics deride as a slippery slope that will hurt needy students.

William & Mary adopts new financing model, embraces high tuition/high aid

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New financing policy at William & Mary embraces “high tuition/high aid” model, while emphasizing middle class affordability and investing in academic quality.

Deficit Reduction Plan Calls for Changes to Loans

The latest deficit-reduction plan from the two men who led President Obama's deficit reduction committee in 2010 calls for changes to several programs important to higher education. The plan, released Friday by former Senator Alan Simpson, a Republican, and Erskine Bowles, a Democrat, would eliminate the in-school interest subsidy on student loans, end PLUS loans to graduate students, use a market-based interest rate for all student loans, and create a "two-tier" system of income-based repayment. The plan, which is unlikely to be passed in its current form, does not call for significant cuts to the Pell Grant.

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